ILOC in Banking Meaning
The ILOC meaning in Banking terms is "Irrevocable Letters of Credit". There are 2 related meanings of the ILOC Banking abbreviation.
ILOC on Banking Full Forms
- Irrevocable Letters of Credit
- Irrevocable Letter of Credit A letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee and which cannot be revoked without joint agreement of both the buyer and the seller.
Frequently Asked Questions (FAQ)
What does ILOC stand for Banking?
ILOC stands for Irrevocable Letters of Credit in Banking terms.
What is the shortened form of Irrevocable Letter of Credit in Banking?
The short form of "Irrevocable Letter of Credit" is ILOC for Banking.
Citation
ILOC in Banking. Acronym24.com. (2020, May 24). Retrieved June 16, 2024 from https://acronym24.com/iloc-meaning-in-banking/
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